Home / Knowledge / News / Textiles / Assam assembly unanimously approves GST Bill
Assam assembly unanimously approves GST Bill
13
Aug '16

The legislative assembly of Assam has unanimously approved the Goods and Services Tax (GST) Bill, becoming the first state to do so. At least 16 of the 31 Indian states including the assemblies of Union Territories Delhi and Puducherry need to ratify the Bill, passed by Parliament, before it can be implemented.

“Proud that Assam is the First state to ratify historic GST Bill, which promises to transform India,” Assam finance minister Himanta Biswa Sarma tweeted at 12 in the afternoon. In another tweet, Sarma said: “Happy to share that Assam assembly has unanimously ratified the GST Bill.”

Once the Bill is ratified by 16 state assemblies, it would receive a presidential assent. Post this exercise, the GST Council will draft the subsequent Central GST, Integrated GST and State GST Bills. The Central government is keen to implement the GST by April 1, 2017, as it would send a positive signal to the industry.

The GST Bill aims at replacing all central indirect levies like excise duty, countervailing duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, by a single tax pan-India.

Under the GST, there is a provision for states to collect special tax during any natural calamity or disaster, subject to approval by the GST Council. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 27th Apr 2017

Boohoo's revenue increases 51% to reach £294.6 mn

Fashion e-commerce marketplace Boohoo has recorded a 51 per cent...

Apparel/Garments | On 27th Apr 2017

Amazon catching up with Flipkart in India: RedSeer

Online marketplace Amazon India has caught up with its biggest rival...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search